Kia and Hyundai invest in UK electric start-up
Kia and Hyundai have announced a strategic investment of €100 million in a new partnership with Arrival, a UK-based electric vehicle start-up.
The partnership will result in “competitively priced” small and medium-sized electric vans and other products for logistics, on-demand ride-hailing and shuttle service companies. Arrival’s scalable electric platform can be adapted for multiple vehicle categories and types which Arrival, Hyundai and Kia will explore for the development of a range of purpose-built vehicles.
Arrival’s strength is its ‘skateboard’ electric vehicle platform, which is a modular, cost-effective base that incorporates a battery pack, electric motor and driveline components. It can be used to underpin a range of vehicles and is currently being tested with multiple logistics companies in Europe using cargo vans manufactured with the technology.
With increasing global growth in online shopping, the volume of light commercial vehicles in urban areas has increased. The demand for eco-friendly commercial vehicles is expected to continue growing as environmental regulations tighten, says Arrival. From 2021, the EU will introduce the world’s most stringent vehicle emission regulations, limiting each automaker’s fleet-wide average CO2 emissions by around 27 per cent, from 130 g/km to 95 g/km.